Stocks to buy: Axis Bank, Dr Lal Pathlabs among top four stock picks by SMC Global Securities for this week
Stock market today: Indian stock market benchmarks consolidated for the second consecutive session on Tuesday, June 11, amid weak global cues.Despite opening higher and trading in positive territory for a significant part of the session, equity benchmarks—Sensex and Nifty 50—ended flat on profit booking in the absence of fresh triggers.Sensex hit its intraday high of 76,860.53, but prey to profit booking in the fag-end and ended 33 points, or 0.04 per cent, lower at 76,456.59. Nifty 50 opened at 23,283.75 against its previous close of 23,259.20 and touched its intraday high of 23,389.45.
The index settled 6 points, or 0.02 per cent, up at 23,264.85. Caution ahead of the US consumer price inflation data and Federal Reserve policy decision on Wednesday also contributed to the market's lacklustre show.After rising about 3.4 per cent last week, Nifty 50 has dropped 0.1 per cent this week so far, trading in a narrow 200-point range in the last two sessions.
The frontline indices hit their all-time high levels in the early trade on Monday.In the current market scenario, domestic brokerage firm SMC Global Securities has released its top four stock picks for this week. The brokerage has selected the quality stocks on technical as well as fundamental parameters.
The stocks have robust fundamentals and are well-placed to yield good returns for investors in the next one-year time frame, according to the brokerage.Let's take a look at the top four technical and fundamental stocks for this week by brokerage SMC Global Securities:Axis Bank reported a net profit of ₹7,130 crore in the January-March quarter results for fiscal 2023-24 (Q4FY24), compared to a loss of ₹5,728.4 crore in the corresponding period last year. The private sector
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